Sell Alert: Book An 86% Gain On Our Starbucks Put Spread
Based on overnight futures trading, it looks like a reversal of the March rally is underway. There is more downside risk in many consumer discretionary stocks like SBUX. But Starbucks’ decline is more about company-level challenges than it is about macro risk. Our $80 price target for June is now within reach – much faster than we expected. So, let’s take profits now on this position.